A man sells two tables at the same price. On one he makes a profit of 10% and on the other he suffers a loss of 10%. His loss percent on the whole transaction is
A). 1 % gain
B). 1 % loss
C). 2 % gain
D). 2 % loss
1 % loss
Note: If there is an increase and decrease same percent, say,”a%” then there is always a loss
of a²/100.
Therefore, in this problem, a = 10, and therefore, loss percent = 10²/100
= 1% loss.